Glycated Albumin Market to Grow Significantly Owing to Recent Approval by U.S. FDA

SEATTLE, July 16, 2018 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, approval granted to novel albumin assay in U.S. and Europe, two leading healthcare markets, is expected to drive the growth of global albumin market.

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Key Trends and Analysis of the Glycated Albumin Market:

Increasing number of approvals for novel glycated albumin tests developed by key players in the market is expected to expand the glycated albumin market size in the near future.

For instance, in 2017, Asahi Kasei Pharma Corporation, a Japan-based company, received 510(k) clearance from the U. S. Food and Drug Administration (FDA) for its new Lucica Glycated Albumin-L, an in vitro diagnostic assay kit for glycated albumin (GA-L). In 2015, Lucica Glycated Albumin-L received CE mark in Europe and approval in Taiwan, in 2013 it also received approval in Indonesia, and Korea.

Furthermore, increasing prevalence of diabetes is expected to increase demand for glycated albumin tests, which in turn is expected to fuel the global glycated albumin kits/assay market growth.

For instance, according to National Diabetes Statistics Report 2017 published by Centers of Disease Control and Prevention (CDC), around 9.4% of the population in the U.S., which includes all age groups i.e., pediatric, adults, and geriatric population, accounting for 30.3 million people, are suffering from diabetes. Whereas, 33.9% of these people are diagnosed with pre-diabetes. According to the data published by World Health Organization (WHO), 2014, around 8.5% of adults aged 18 years and above, accounting around 422 million adults, were suffering from diabetes worldwide

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Key Market Takeaways:

• Glycated albumin market is projected to witness CAGR of XX% during the forecast period (2018–2026), owing to increasing approval for novel Glycated Albumin in key regions such as North America, and Asia-Pacific
• Frequent approval of novel products is expected to boost growth of the global glycated albumin market in the near future
• High prevalence of diabetes is expected to propel demand for glycated albumin for diagnosis purposes
• Major players operating in the glycated albumin market include Lifespan Biosciences, Biomatik Corporation, Abbexa Ltd., G Biosciences, DRG International, Inc., Amsbio LLC, Signalway Antibody LLC, United States Biological, Diazyme Laboratories, Abnova Corporation, Maccura Biotechnology Co. Ltd., Exocell Inc., Biorbyt Ltd., and Epinex Diagnostics Inc.

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